Topic: My brothers and sisters, why are we buying Dogs and Cats alternative crypto. (Read 94 times)

The huge amount of supplies may not really be the problem but the potentials to the coin and the rate of demands including reliability that the coin doesn't become a ghost just as has emphasized.
Probably you can different between bitcoin and  those of your dogs and cats coins to your inlaw because he may have been wrongly influenced by the speculations and hyping of those shitcoins while his intentions could be of settling in the bitcoin.

Let me tell us all, most beginners who feel victim to had invested and lost their funds on investing in the AltCoins are sometimes redirected from their intended directions.
Some may have wanted to invest on bitcoin but due to their inexperiences and low knowledges, they gets converted to invest on the AltCoins just because there was no guidance and they lacks reliable source of research and consultations as the case maybe.

I reason your question, and I believe say di reason wey many people take de buy dis memecoins wey you de call cats and dogs na because of quick profits, many people ready to gamble dem funds for a chance to gain plenty profit on the short term, but di reality be say most of di dev. teams of dos projects na scam dem carry for mind. No be everybody get dat patience to de hodl Bitcoin on di long term, de wait until bull run go come before dem begin to see plenty profit, so na man die once be dem way,  either say make dem profit or lose dem money.

Me personally i no get di risk absorber to buy all dis risky altcoins, na Bitcoin, wey sure pass all of dem and na im I de focus my investment capital on, apart from di baba, na only top altcoins, wey don proof dem reputations na im I fit to take my money buy.

It's funny but you're the one sounding new as you didn't read my topic and get what I was saying before replying. I didn't say there's no good altcoins, what I said is we should avoid all those altcoins that have dogs and cat names. They're too many on coingecko when you click the memecoin category of coingecko.

I know they're meant to be a joke but many individuals are seeing them as an investment coin and are investing too much into them. I don't have anything against altcoins, I was looking for some to buy that is how I got to know about all the cats and dogs coins but alot of investors are busy buying them which might not have a good ending as I see there are lots of them scamming. We are here looking for how to get out of poverty and a better future therefore it will be bad when we lose the small money that we have to scammers. Some of those cats and dogs coins do not have a good roadmap, working website or active developers but still many people are rushing to buy the coins.

I don't want to sound rude but it seems you're an obvious novice in the whole Bitcoin and cryptocurrency ecosystem that's still not yet grounded In the basics of investing into bitcoin and it's clear that you're yet to know the fact that there are some good altcoins out there you can take advantage of for the short term and get some profit from it. Maybe if we're looking at investing into altcoins for the long term, then it's okay to look at it as somehow gambling with our money but I don't think it's right to assume that anyone that's into altcoin is just wasting his money away. I still know a lot of guys that have Bitcoin as a primary asset that's never to be tampered with untill they are able to buy a certain amount while they use part of there money to invest into altcoin and still buy Bitcoin with the profit they realize from those altcoins.

Short term investors and traders still leverage on the good side of some good altcoins and still make something out of it and although investing into altcoins is risky, if you don't allow greed come in your way and you invest an amount that's not going to throw you off balance if things go knot and you're willing to take out your profit without waiting to hit it too big, then it's still not bad to invest into altcoin.

Maybe if your intention is to allocate 20% of your total monthly or weekly earnings into investing in crypto assets, it could take the form of either investing all the 20% into Bitcoin or you can choose to keep out like 3% to try out some good altcoins. That way, it's some sort of responsible gambling that can favour you or not and whatever is the outcome of the investment, it's doesn't really shake you that much.

I don't know if I was just lucky but I recently did an investment as this and to be really honest, that was my first time of investing into any altcoin. Bought Pepe with $40 and sold it the moment it got to $70. It's not always a guarantee that other altcoin will work this way and since I'm now looking at focusing more on investing for the long term, such kind of things don't move me that much but what I'm trying to say is that it's not just about the name of the coin that's the issue and surely Bitcoin stands out as the surest long term investible asset but I doubt its right to assume that anyone that's investing into altcoins is throwing away his money.

It is becoming alarming how our brothers and sisters are investing into shitcoins all because they are trying to fight poverty that has turned this country into something else. I bought some Bitcoin after being introduced to it by my brother in law but also wanted to have another coins added to my portfolio as I know it is not always wise to have your investments only in one place but when I heard some suggestions from my brother in law, it was making me to laugh and wonder what people are investing into.

Why do we invest in a coin that the name isn't serious and a joke, why do we invest in a coin that the circulating supply of the coins is in trillions making it impossible for the project to have the element of a limited supply as Bitcoin has to make it more scarce to increase the value over time. Are we not graduate to know how supply and demand works, why do we like to throw away money. We are supposed to be investors in this industry and not gamblers. Please anybody that is thinking of investing in alternative coins should avoid all the dogs and cats project because they will fail us one day and we'll lose our money. I might not have much experience in crypto but I do have experience in finance and I know what will not be successful but only a mistake when investing, lets be guided please.